You’ve wracked up a lot of credit card debt in the past, but have turned over a new leaf. A solid debt reduction plan is in place and you have stopped using credit cards for new purchases. But did you know that the very credit card that has contributed to money problems could help your debt reduction plan?
Credit Card Rewards Balance
Credit card rewards plans usually allow you to accumulate points each time you make a purchase. Many people sign up for rewards plans but never look at their points balance. If you haven’t checked out your balance lately, it’s time. You could have thousands of points that can be used for rewards. It’s also important to use rewards points before they expire. Read the rest of this entry »
The Federal Reserve reports that U.S. consumers are paying down their credit card debt. Consumer debt levels have fallen for 15 of the last 17 months; all consumer debt levels (excluding mortgages and other real estate loans) fell by $11.5 billion in February to a total of approximately $2.45 trillion. We still have a ways to go. Here are some tips for paying off credit card debt.
Chris Rocks is the Regional Director of the National Credit Federation (NCF). NCF is a nationwide membership-based organization that assists consumers recovering from a financial difficulty and those who need a significant increase in their credit score.
Chris began his financial services career as a Financial Advisor helping young families with risk management and asset accumulation strategies. It was during that time that Chris realized that many of these young families also needed someone to guide their choices with regards to debt management.
He made the transition into the mortgage industry where he first worked as a loan originator and later the Vice President of a small mortgage company. As Chris came across clients who had suffered through financial challenges and saw the difficulty they had in re-entering our credit driven economy, he discovered there was a real opportunity to leverage his unique background and help others.
He can be contacted by visiting his personal site, GoodCreditLiving.com.
Francine L. Huff is the Publisher and Editorial Director of Super Savvy Publishing, LLC, which provides editorial and publishing services. She is a gifted author, freelance journalist, and motivational speaker who has entertained and motivated a variety of audiences through workshops, panels and keynote addresses. Francine is the author of The 25-Day Money Makeover for Women, which has inspired and motivated many readers to rein in poor financial habits, become good stewards over their money and work toward a debt-free life. She has appeared on a variety of TV and radio shows. Francine previously worked for the Wall Street Journal, where she was the spot news bureau chief, a news editor and a copy editor. She has interviewed a variety of financial professionals about financial issues and strives to present information about managing money in an easy-to-understand format that is accessible to people of all backgrounds and income levels.
Karen Lawson is a freelance writer with more than 15 years of experience working in mortgage banking and loan servicing. She holds BA and MA degrees in English from the University of Nevada, Reno. She enjoys writing informative articles about debt management and personal finance.